East African Breweries PLC CONDENSED AUDITED RESULTS FOR THE YEAR ENDED 30th JUNE 2025
The Board of Directors of East African Breweries PLC (EABL) is pleased to announce its audited results for the year ended 30th June 2025
Our business continued to demonstrate resilience and strategic focus against a backdrop of mixed macroeconomic conditions across the region. While the broader East African economy showed signs of recovery and relative stability, external pressures persisted marked by shrinking disposable income and rising
input costs.
Despite these challenges, EABL delivered a solid performance, anchored on strong strategy execution. Revenue grew 4% to Kshs 128.8 billion and profit after tax grew 12% to Kshs 12.2 billion.
The EABL Board has declared a final dividend of Kshs 5.50 per share, bringing the total dividend to Kshs 8.00 per share, 14.3% above last year.
The Board remains committed to guiding the company with a focus on long-term value creation. We remain prudent and optimistic about the growth prospects for our business.
Dr. Martin Oduor-Otieno - Group Chairman
EABL delivered a strong set of results marked by topline growth and double-digit profit expansion. All our markets recorded growth, fortifying our business position across the region.
During the year, we remained focused executing on our strategy, setting the right foundation for the results achieved and for sustainable long-term growth. We continue to invest in our brands, so they remain relevant for today's consumers, and to broaden our portfolio to cater for a greater variety of occasions. This strong portfolio supported by brilliant commercial execution is key to our continued growth and profitability.
Further, we continued to make progress on our long-term Environmental, Social and Governance (ESG) goals, prioritized a people first culture and drove innovations and productivity across the business to mitigate inflation.
I am deeply grateful to our people, the Board, shareholders, consumers, customers, suppliers and other partners for their unwavering support and commitment.
Ms. Jane Karuku - Group MD & CEO
Net Sales
Kshs 128.8 bn
+4% vs LY
Profit After Tax
Kshs 12.2 bn
+12% vs LY
Total Dividend Per Share
Kshs 8.00
+14% vs LY
Condensed consolidated statement of comprehensive income for the year ended:
30-Jun-25 Kshs 'M | 30-Jun-24 Kshs 'M | |
Net revenue | 128,791 | 124,131 |
Cost of sales | (74,713) | (70,483) |
Gross profit | 54,078 | 53,648 |
Operating costs | (29,220) | (24,830) |
Foreign exchange gains / (losses) | 313 | (3,921) |
Earnings Before Interest and Taxes | 25,171 | 24,897 |
Net finance costs | (5,859) | (8,126) |
Profit before income tax | 19,312 | 16,771 |
Income tax expense | (7,114) | (5,901) |
Profit for the year | 12,198 | 10,870 |
Other comprehensive income | 515 | (3,959) |
Total comprehensive income | 12,713 | 6,911 |
Basic earnings per share | 11.97 | 10.30 |
Share capital & share premium Kshs 'M | Other reserves Kshs 'M | Retained earnings Kshs 'M | Proposed dividends Kshs 'M | Non-con-trolling interest Kshs 'M | Total Kshs 'M | |
At 30 June 2023 & 1 July 2023 | 3,273 | 2,569 | 14,186 | 1,384 | 10,332 | 31,744 |
Total comprehensive income | (3,870) | 8,146 | - | 2,635 | 6,911 | |
Employees share based ownership plan | - | 253 | - | - | - | 253 |
Dividends: | ||||||
- Final for 2023 | - | - | - | (1,384) | (1) | (1,385) |
- Interim for 2024 | - | - | (791) | - | - | (791) |
- Proposed final for 2024 | - | - | (4,745) | 4,745 | - | - |
At 30 June 2024 & 1 July 2024 | 3,273 | (1,048) | 16,796 | 4,745 | 12,966 | 36,732 |
Total comprehensive income | - | 510 | 9,477 | - | 2,726 | 12,713 |
Employees share based ownership plan | - | 64 | - | - | - | 64 |
Dividends: | ||||||
-Final for 2024 | - | - | - | (4,745) | (500) | (5,245) |
-Interim for 2025 | - | - | (1,977) | - | - | (1,977) |
-Proposed final for 2025 | - | - | (4,349) | 4,349 | - | - |
At 30 June 2025 | 3,273 | (474) | 19,947 | 4,349 | 15,192 | 42,287 |
30-Jun-25 Kshs 'M | 30-Jun-24 Kshs 'M | |
Cash generated from operations | 35,651 | 34,615 |
Net interest paid | (5,859) | (8,031) |
Income tax | (6,025) | (4,486) |
Net cash generated from operating activities | 23,767 | 22,098 |
Purchase of property, plant and equipment | (6,441) | (7,236) |
Other investing activities | (39) | (24) |
Net cash used in investing activities | (6,480) | (7,260) |
Dividends paid | (6,830) | (2,176) |
Net movement in borrowings | (8,817) | (9,709) |
Net cash used in financing activities | (15,647) | (11,885) |
Net increase in cash and cash equivalents | 1,640 | 2,953 |
At start of the year | 10,815 | 9,043 |
Foreign exchange impact of translation | 289 | (1,181) |
Net increase in cash and cash equivalents | 1,640 | 2,953 |
Cash and cash equivalents at end of the year | 12,744 | 10,815 |
30-Jun-25 Kshs 'M | 30-Jun-24 Kshs 'M | |
Share capital and share premium | 3,273 | 3,273 |
Retained earnings | 19,947 | 16,796 |
Other reserves | (474) | (1,048) |
Proposed dividend | 4,349 | 4,745 |
Non-controlling interests | 15,192 | 12,966 |
Total equity | 42,287 | 36,732 |
Borrowings | 36,885 | 43,290 |
Other non-current liabilities | 8,124 | 8,085 |
Non-current liabilities | 45,009 | 51,375 |
Total equity and non-current liabilities | 87,296 | 88,107 |
Property, plant and equipment | 75,563 | 75,935 |
Other non-current assets | 6,875 | 6,738 |
Non-current assets | 82,438 | 82,673 |
Inventories | 15,871 | 12,630 |
Trade and other receivables | 16,497 | 12,650 |
Cash and bank balances | 12,745 | 11,716 |
Other current assets | 3,539 | 4,577 |
Current assets | 48,652 | 41,573 |
Trade and other payables | 37,597 | 28,354 |
Borrowings | 5,405 | 6,376 |
Bank overdraft | 1 | 901 |
Other current liabilities | 791 | 508 |
Current liabilities | 43,794 | 36,139 |
Net current assets | 4,858 | 5,434 |
87,296 | 88,107 |
Operating Environment
The macroeconomic environment across the region remained stable, with steady economic growth recorded. In Kenya, interest rates declined while the Kenya Shilling appreciated against major currencies, reversing the depreciation experienced in the prior year. In Tanzania, interest rates remained stable while the currency depreciated against major currencies. Uganda remained largely stable.
The business continued to navigate external pressures, including proliferation of illicit alcohol, sustained input cost inflation and declining consumer spending driven by reduced disposable income. These factors underscore the need for stronger regulatory enforcement and collaborative action to safeguard consumers and legitimate players within the sector.
Business Review
Net revenue grew 4% to Kshs 128.8 billion while volume grew 2% as both beer and spirits registered growth across markets.
Profit after tax grew 12% to Kshs 12.2 billion, driven by topline growth, foreign exchange gains and lower finance costs realized through reduction of both debt and interest rates. These offset the impact of one-off costs during the year.
Cash and cash equivalents of Kshs 12.7 billion increased by Kshs 1.9 billion, driven by revenue growth and lower cost of debt.
Total debt (including overdraft) reduced by Kshs 8.3 billion contributing to lower finance costs.
Looking Ahead
We remain focused on executing our strategy with discipline to continue building on the underlying growth momentum and deliver long-term sustainable growth.
Dividend
The Board of Directors recommend a final dividend of Kshs 5.50 per share subject to withholding tax. This dividend is scheduled for payment on or about 28th October 2025 to shareholders who are duly registered at the close of business on 16th September 2025. If approved, the total dividend for the year will amount to Kshs 8.00 per share (FY 2024: Kshs 7.00).
By order of the Board Ms. Angela Namwakira
Group Company Secretary
Date: 30 July 2025